Monday, June 5, 2017

Governor
Rick Scott on Friday signed a bill that will bring over a billion
dollars to the eight Panhandle counties that were hit hardest by the
BP oil spill.

The
governor signed what is known as the “Triumph Bill” that requires
that 75 percent of all BP restoration payments coming to Florida go
to the area that was hit the hardest by the oil disaster, which are
the 8 counties between Escambia and Wakulla Counties.

The
money will be held in a trust fund managed by a nonprofit group
called Triumph Gulf Coast.

The
law requires that 300 million dollars will move into the trust fund
immediately.

Another
$1.2 billion dollars is anticipated to be paid to the nonprofit in
annual installments through 2033.

The
legislation requires the county commission in each of the eight
counties to solicit proposed projects and programs which they would
then provide to Triumph Gulf Coast.

Triumph
Gulf Coast, must allocate at least five percent of the initial $300
million dollars to projects in each county, and must allocate at
least four percent of future settlement funds to projects in each
county.

The
remaining funds are unrestricted and will be allocated by Triumph
Gulf Coast for larger, more regional projects.